Filing Flows › Macrogenics (MGNX) › Q1 2026
Macrogenics (MGNX) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 13, 2026
Macrogenics (MGNX) reported revenue of $20.8M for the first quarter 2026 (Q1 2026), +57% from a year earlier and -50% from the quarter before. Operating margin was -161.0%, net loss $36.8M (177.0% of revenue).
Macrogenics, Q1 2026: revenue $20.8M (+58% year over year), operating margin -161.0%, net loss $36.8M, operating cash flow −$35.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.8M | -50% | +57% |
| Operating profit | −$33.4M | — | — |
| Net earnings | −$36.8M | — | — |
| Operating cash flow | −$35.8M | -183% | — |
What changed
Revenue was $20.8M in Q1 2026, up 57% year over year and down 50% from the previous quarter. Contract manufacturing was the largest line at 68% of revenue. Contract manufacturing added $7.9M year over year (up 129%), 104% of the total change. Collaborative and other agreements declined 91%.
Operating costs exceeded revenue by $33.4M, an operating margin of -161.0%. Total costs fell 3% while revenue rose 57%. The fastest-growing cost line was Other operating costs (+76%). The quarter ended with a net loss of $36.8M, wider than the previous quarter's $14.2M loss.
Operating cash flow was −$35.8M. Non-cash charges added back $1.7M of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items used $3.4M. Capital expenditures of $344K exceeded it, leaving free cash flow of −$36.2M.
Questions
What was Macrogenics' revenue in the first quarter 2026?
Macrogenics (MGNX) reported revenue of $20.8M for the first quarter 2026 (Q1 2026), +57% from a year earlier and -50% from the quarter before.
Was Macrogenics profitable in the first quarter 2026?
Operating loss was $33.4M (-161.0% of revenue) and net loss $36.8M.
Source: Macrogenics 10-Q on SEC EDGAR.